The Citi Prestige Credit Card is Citi’s premium travel credit card. With it being a premium card, the question you may ask yourself is the Citi Prestige card right for me? Does it offer benefits and perks that outweigh its high annual fee? Is this card only for road warriors and luxury travelers? In this article, we’ll cover how to maximize the Citi Prestige travel credit.
This card, along with its other travel cards like the Citi Premier, saw changes in 2019. Some of the changes were positive like increased earn rates in bonus categories. On the negative side, Citi removed its travel protections. This was a massive blow to the value of its credit cards.
Citi Prestige Card Details
The Citi Prestige is a premium card in Citi’s lineup of cards that earn ThankYou points. Both the Citi Prestige and Citi Premier℠ Card earn ThankYou points. These are the points that can be transferred directly to their airline partners. If you have the Citi Rewards+ Card, Citi Rewards+ Student Card, or AT&T Access Card, you’ll need to pair these cards with the Prestige or Premier to transfer those points to Citi’s airline partners.
New Citi Prestige cardmembers will receive a 50,000-point signup bonus after spending $4,000 in the first 3 months. The caveat is that this bonus is not available if you’ve received the Citi Premier bonus in the last 24 months. With this Citi Prestige bonus comes a $495 annual fee. This fee is partially offset with a yearly Citi Prestige travel credit.
Citi Prestige Card: Perks
Citi offers 5 main perks for Citi Prestige cardmembers: 4th night free, $250 travel credit, cellphone protection, Global Entry, and Priority Pass lounge. Of these 5 perks, the 4th night free, $250 travel credit, and cellphone protection offer the most value.
With respect to the cellphone protection benefit, Citi will reimburse you up to $1,500 per 12-month period for a stolen or damaged phone. You need to pay your cellphone bill with the Citi Prestige Card to be eligible for this benefit. Each claim filed with Citi is subject to a $50 deductible.
How to Earn Points with your Citi Prestige Card:
The bonus earning categories are where the Citi Prestige shines. When Citi removed its travel coverage, it simultaneously increased its earn rates. This is great news for those of you who spend heavily in the Citi Prestige bonus categories.
Cardmembers earn 5X on airfare, dining, and travel agencies including Expedia. The card also earns 3X on hotel and cruise line purchases. If you take into account the $250 annual travel credit, you’ll need to spend $272 per month in 5X categories to offset the $495 annual fee.
How to Redeem Citi Prestige Credit and Points:
Similar to American Express and Chase, Citi has a travel portal and travel partners. This means that the ThankYou points can be used to book flights directly through the portal or with an airline partner. If you use the portal, points can be redeemed for 1 cent per point.
The best way to redeem ThankYou points is to transfer them to one of Citi’s 15 airline partners. Not all of these partners are created equal. In other words, you’ll want to focus on the high-value partners. Cathay Pacific Asia Miles, Avianca LifeMiles, Etihad Guest, Flying Blue, Singapore Airlines KrisFlyer, and Virgin Atlantic Flying Club are partners to keep on your radar.
Which Credit Cards Compete with the Citi Prestige Card:
The Chase Sapphire Reserve and Amex Platinium are the 2 competitors to the Citi Prestige Card. Reserve cardmembers earn 3X on dining and travel and receive a $300 yearly travel credit. As a Platinum cardmember, you’ll earn 5X on airfare and receive a $200 Uber credit, a $200 airline incidentals credit, and a $100 Saks credit.
There are also credit card options if you’re looking to step down from the premium Citi Prestige travel credit card level. The Chase Sapphire Preferred earns 2X on dining and travel, the Amex Gold Card earns 4X on dining and US grocery stores, and the Amex Green Card earns 3X on dining and travel.
4th Night Free with your Citi Prestige Card:
The 4th-night free perk is one of the main reasons to apply for the Citi Prestige Card. As a cardmember, you’ll receive the 4th night free of your stay at nearly any hotel when you book the hotel through ThankYou.com.
Citi bases the rate on the average nightly rate during your stay. Taxes and fees are excluded. Unfortunately, this paid stay is not likely to earn hotel points. In addition, you are not likely to receive any elite status perks that you have.
$250 Citi Prestige Travel Credit:
Another reason to apply for the Citi Prestige Card is the $250 annual travel credit. This credit is similar to the Chase Sapphire Reserve $300 annual travel credit. What’s great about this perk is flexibility. Any purchase that codes as travel is offset by this yearly Citi Prestige travel credit.
Premium travel cards like the Citi Prestige Card come with high annual fees. In the case of the Prestige, you’re looking at a $495 annual fee. If you utilize the $250 travel credit, this chops the annual fee down to $245 per year.
Conclusion on How to Use the Citi Prestige Travel Credit Card
The way to justify the effective $245 annual fee on the Citi Prestige is to utilize the 4th-night free perk and $250 annual travel credit. If you use both of those every year, you’ll come out ahead. On the flip side, this is not a card to apply for if you can’t leverage both of these cardmember benefits.
What about you? Do you use the Citi Prestige travel credit card? Please let me know in the comments below or by sending me an email on my contact page.
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